Caleres, Inc. (NYSE:CAL) Insider Sells $555,000.00 in Stock

Caleres, Inc. (NYSE:CAL) insider Daniel R. Freidman sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $37.00, for a total value of $555,000.00. Following the completion of the sale, the insider now owns 64,167 shares in the company, valued at approximately $2,374,179. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Caleres Trading Up 1.0 %

CAL stock opened at $36.16 on Friday. The firm has a market capitalization of $1.27 billion, a PE ratio of 7.52 and a beta of 1.99. Caleres, Inc. has a 1-year low of $16.85 and a 1-year high of $41.94. The business’s 50 day simple moving average is $37.51 and its 200 day simple moving average is $31.80.

Caleres (NYSE:CAL) last posted its earnings results on Tuesday, March 19th. The textile maker reported $0.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.86. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $694.32 million. Caleres had a return on equity of 29.77% and a net margin of 6.10%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 EPS. As a group, sell-side analysts predict that Caleres, Inc. will post 4.43 EPS for the current fiscal year.

Caleres Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Thursday, March 28th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Wednesday, March 27th. Caleres’s payout ratio is presently 5.82%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CAL. Bank of New York Mellon Corp increased its holdings in shares of Caleres by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 445,331 shares of the textile maker’s stock worth $8,608,000 after acquiring an additional 3,167 shares during the last quarter. Citigroup Inc. grew its holdings in Caleres by 6.3% in the 1st quarter. Citigroup Inc. now owns 36,560 shares of the textile maker’s stock valued at $706,000 after buying an additional 2,172 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Caleres in the 1st quarter valued at $535,000. MetLife Investment Management LLC grew its holdings in Caleres by 53.3% in the 1st quarter. MetLife Investment Management LLC now owns 20,589 shares of the textile maker’s stock valued at $398,000 after buying an additional 7,161 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in Caleres by 6.9% in the 1st quarter. Panagora Asset Management Inc. now owns 42,925 shares of the textile maker’s stock valued at $830,000 after buying an additional 2,776 shares in the last quarter. 98.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAL has been the topic of a number of analyst reports. Loop Capital upped their price objective on Caleres from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. KeyCorp initiated coverage on Caleres in a research note on Wednesday, February 7th. They set a “sector weight” rating on the stock. Finally, Piper Sandler upped their price objective on Caleres from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Caleres presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

About Caleres

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.